Sfmg LLC Sells 1,094 Shares of ConocoPhillips (NYSE:COP)

Sfmg LLC reduced its holdings in ConocoPhillips (NYSE:COP) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,925 shares of the energy producer’s stock after selling 1,094 shares during the quarter. ConocoPhillips comprises 0.5% of Sfmg LLC’s holdings, making the stock its 28th largest holding. Sfmg LLC’s holdings in ConocoPhillips were worth $6,439,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COP. State Street Corp increased its holdings in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $232,859,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.3 %

Shares of NYSE COP opened at $102.05 on Friday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business’s fifty day moving average price is $99.21 and its 200-day moving average price is $103.45. The stock has a market capitalization of $129.84 billion, a PE ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COP. TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.